Syngene has effectively demonstrated Biocon’s strategic approach towards being ‘credibly capable’ by unlocking immense value through its successful listing on the stock exchanges in FY16. It crossed a market cap of USD 1 billion within a week of listing and was valued at USD 1.16 billion as on March 31, 2016. The resounding oversubscription of the IPO has reflected the trust and confidence of the investor community in Syngene’s value proposition. We are extremely proud and excited to take Syngene to its next phase of growth as India’s only publicly listed Research Services Company.

The growth is driven by a robust performance across all its three verticals – Dedicated R&D Centers, Discovery Services and Development & Manufacturing Services. With over 2,500 research scientists and a laboratory base over 900,000 square feet, Syngene services a diverse range of clients including 8 of the Top 10 global pharma majors.

The growth in the Dedicated R&D Centers Business is driven by the expansion of the services that it provides under the integrated operating model to its three longterm strategic clients. Discovery Services, which incorporates the Discovery Chemistry and Discovery Biology activities for both small and large molecules, is growing on the back of strong traction in Discovery Biology.

The growth in Development and Manufacturing Services is largely driven by the Chemical Development group. In line with its ambition of evolving from a Contract Research Organisation (CRO) into a full-fledged Contract Research and Manufacturing Services (CRAMS) company, Syngene started the commercial manufacturing of novel small molecules for clients during FY16.

Expanding Capacity
Syngene continues to invest extensively in the business with a capital expenditure of over USD 200 million planned over the next few years. Plans are underway to set up a greenfield API & Intermediates manufacturing facility in Mangalore, and to construct a 200,000 sq. ft., state-of-the-art Syngene Research Center to support integrated discovery programs and a formulations development centre along with a biologics manufacturing plant in Bangalore.

Outlook
Syngene has a proven track record of leveraging its pool of worldclass scientists and state-of-the-art laboratories to put innovative science to work. It offers a one-stop destination for organizations looking to optimize their R&D spends without compromising on the quality of R&D output.

In recent years, a number of Syngene’s clients’ key R&D programs have moved into advanced phases of clinical development. Consequently, this has opened up the opportunity for Syngene to expand the scope of work that it does with its clients and emerge as the manufacturer of choice for development batches on large-scale commercial supplies as those molecules move towards commercialization.

Syngene expects the business momentum to remain strong, enabling the company to deliver broad-based growth across all three verticals. Strong business momentum and good visibility into future revenue streams provides Syngene the confidence to deliver on its aspirational target of achieving USD 250 million in revenues by FY18.